Summary

1
Summary

• Differences between trade statistics and BOP data
• Methodological/Conceptual differences
• Practice of CIF/FOB and other adjustments by
  Member States
• How to improve the coherence between Trade and
  BOP statistics

2
1. Differences between External Trade Statistics
and Balance of Payments
3
1. Differences between External Trade Statistics
and Balance of Payments

• Extra-EU15 trade in goods (billion Euro)

  BOP FTS BOP - FTS
Year 2002      
Exports 979 997 -18
Imports 930 989 -59
       
Net balance 49 8 41
Year 2003      
Exports 967 989 -22
Imports 933 977 -44
     
Net balance 34 12 22
4
2. Methodological/Conceptual differences

• 1 - Difference of Coverage
• - Principle of Recording
• Movements Across Border (FTS) ltgt Change of
  ownership (BOP)
• - Definition of the boundary
• Customs territory ltgt Economic territory
• - General trade ltgt Special Trade

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2. Methodological/Conceptual differences

• 2 - Treatment of Special Transactions or Types of
  good
• - Generally same treatment in FTS and BOP
• - Some exceptions Repairs, Goods procured in
  ports,...
• 3 Valuation
• - CIF/FOB Valuation of goods (Imports)

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3. CIF/FOB Ratio used in BOP
Item 7-a Reconciling merchandise trade and BOP
data
    Intra EU15 Extra EU15 World
AT Year 1996 3,1 4,9 3,6
  Year 1997 3,1 4,6 3,5
  Year 1998 3,1 4,1 3,4
DE Year 2000 0,6 3,6 2,0
  Year 2001 0,6 3,6 1,9
  Year 2002 0,6 3,5 1,9
DK Year 1999 3,7 3,7 3,7
  Year 2000 3,7 3,7 3,7
  Year 2001 3,7 3,7 3,7
ES Year 1999 4,5 4,5 4,5
  Year 2000 4,5 4,5 4,5
  Year 2001 4,5 4,5 4,5
FI Year 1996 3.30 7.20 4.70
  Year 1997 3.50 6.60 4.70
  Year 1998 3.90 6.20 4.70
FR Year 2001 1,0 3,5 2,0
  Year 2002 1,0 3,5 2,0
IR Year 2000 4,8 4,8 4,8
  Year 2001 2,0 4,8 3,0
  Year 2002 2,0 4,8 3,0
IT Year 2000 1,7 6,1 3,6
  Year 2001 1,5 6,2 3,5
  Year 2002 1,3 6,4 3,5
NL Year 1997 0,8 10,3 4,4
  Year 1998 0,7 7,4 3,6
  Year 1999 0,6 6,9 3,5
  Year 2000 0,6 6,3 3,4
PT Year 1999 4,7 4,7 4,7
  Year 2000 4,7 4,7 4,7
  Year 2001 4,7 4,7 4,7
SE Year 1999 1,4 1,4 1,4
  Year 2000 1,4 1,4 1,4
  Year 2001 1,4 1,4 1,4
UK Year 1999 1,9 3,5 2,6
  Year 2000 2,0 3,1 2,6
  Year 2001 2,1 3,2 2,6
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3. CIF/FOB estimation methodology
AT CIF/FOB adjustment is calculated by estimating freight costs using settlements. This calculation takes in account the partner country.
BE No CIF/FOB adjustment, but a methodology is under construction.
DE Application of a CIF/FOB ratio, different for different partners and modes of transport.
DK Application of a CIF/FOB ratio of 3.7 for all partners.
GR No CIF/FOB adjustment.
ES Application of a CIF/FOB ratio of 4.5 for all partners.
FI Application of CIF/FOB ratios. Estimation takes in account the most important partner countries, the mode of transport (sea and air), and the type of the commodity.
FR Application of CIF/FOB ratios estimated using a survey about transportation costs for export and import companies. Sample chosen from customs reports about well identified transactions. The questionnaire requires the transportation mode, the nationality of the carrier, the country of origin or destination, the terms of delivery.
IE Application of a CIF/FOB ratio, different depending on whether the partner is a member of the EU (2) or not (4.8).
IT Application of a CIF/FOB ratio, different for different partners, 32 areas or countries are distinguished.
LU Application of CIF/FOB ratios, different by specific regions and main modes of transport
NL Application of a CIF/FOB ratio, different for different partners, depending on distance and also taking into account economies of scale in transport, adjusted monthly to bring the evolution of the overall CIF/FOB margin in line with the evolution of the gross turnover of the freight transportation flows.
PT Application of a CIF/FOB ratio of 4.67 for all partners.
SE CIF/FOB adjustment is estimated using a model for sea transportation. The CIF component is deducted from goods imports and recorded in sea transportation, as a debit.
UK CIF/FOB adjustment is calculated by estimation of freight services for imports arriving by sea, rail and air.
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3. CIF/FOB estimation methodology
BG Application of a CIF/FOB ratio of 8 for all partners. For some imports FOB values are available.
CY Application of a CIF/FOB ratio of 10 for all partners.
CZ BOP compilers respond that the FTS Imports are recorded in FOB prices, which means that there is no need of a CIF/FOB adjustment to be produced.
EE For 1993-2002 the CIF/FOB adjustment methodology of Estonia relies on the application of a CIF/FOB ratio of 5 for all partners. From 2003 onwards, different CIF/FOB ratios are calculated for each partner country.
HU Application of a CIF/FOB ratio of 2.66 for all partners.
LT Application of a CIF/FOB ratio of 5.6 for all partners
LV Application of CIF/FOB ratios, different for each partner country and mode of transport.
MT Application of a CIF/FOB ratio of 10 for all partners. The unique CIF/FOB ratio is applied only to a minor part of imports valued at CIF prices. For a substantial part of imports the actual FOB value is available.
PL Application of a CIF/FOB ratio of 2.5 for all partners.
RO Application of a CIF/FOB ratio of 7.7 for all partners.
SI Application of a CIF/FOB ratio of 3.93 for all partners.
SK BOP compilers declare that, in customs declarations, imported goods are valued on both FOB and CIF basis. They dont produce any adjustment on the source data coming from Slovak Statistical Office.
TR Application of a CIF/FOB ratio of 6 for all partners
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  1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17
AT           /             /        
BE       / /     -/-       / /        
DE   / / / / /   -/-   /- / /   -/-   /  
DK         / /   -/-       /          
GR                                  
ES           /           /          
FI               /       /         /
FR       / /             /          
IE                                  
IT       / / /           / /        
LU         -/- / -/-         / /        
NL       -/- / /   -/-       /          
PT /         /     /     /   /      
SE                       /          
UK -/-   /       -/-         / /   /    
BG                                  
CY         /             /          
CZ                                  
EE   /     /             /          
HU   /     /             /          
LT                                  
LV   /  /  / /            / /  /        
MT     /   /   -/- -/-   / / /          
PL         /                        
RO                                  
SI         /                        
SK                                  
TR                   /     -/-        
3. Other adjustments
1. Non response/below threshold 2. Sea
products 3. Goods dispatched through postal or
courier services4. Goods for processing 5.
Repairs of goods 6. Goods not crossing the
border 7. Goods not changing ownership 8.
Returned goods 9. Goods traded on government
account 10. Exports/Imports by private
individuals 11. Transaction in goods in free
areas 12. Goods procured in ports by carriers
13. Non monetary gold 14. Electricity, gas and
water 15. Additions and alterations to ships and
aircrafts 16. Books and periodicals 17.
Corrections for timing. Import/Export added -
deducted from FTS
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4. How to improve the coherence between FTS and
BOP?

• - FTS estimation of FOB/FOB trade balance
• - BOP - improve harmonization of other
  adjustments
• - prevent additional deviations in the future
  international recommendations (merchanting,
  processing)
• - BOP and FTS - improve estimation of CIF/FOB
  adjustment ratio- check treatment of specific
  transactions- common task force between trade
  statisticians and BOP compilers